Rhode Island § 34-25.2-2 § 34-25.2-2. Legislative findings.

Rhode Island Statutes

§ 34-25.2-2 — § 34-25.2-2. Legislative findings.

Rhode Island § 34-25.2-2

Title 34Property

Ch. 34-25.2Rhode Island Home Loan Protection Act

This text of Rhode Island § 34-25.2-2 (§ 34-25.2-2. Legislative findings.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 34-25.2-2 (2026).

Text

§ 34-25.2-2. Legislative findings.
The general assembly finds that predatory lending has become an increasing problem
            in this state, threatening the viability of many communities and causing decreases
            in home ownership. While the marketplace may appear to be operating effectively for
            most home loans, too many homeowners are falling victim to unprincipled creditors
            who provide loans at exorbitant costs and include terms which are unnecessary to secure
            repayment of the loan. The general assembly finds that as competition and self-regulation
            have not eliminated the predatory terms for home-secured loans, the consumer protection
            provisions o

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§ 34-25.2-2. Legislative findings.

The general assembly finds that predatory lending has become an increasing problem in this state, threatening the viability of many communities and causing decreases in home ownership. While the marketplace may appear to be operating effectively for most home loans, too many homeowners are falling victim to unprincipled creditors who provide loans at exorbitant costs and include terms which are unnecessary to secure repayment of the loan. The general assembly finds that as competition and self-regulation have not eliminated the predatory terms for home-secured loans, the consumer protection provisions of this chapter are necessary to encourage responsible lending.